’’Failure is simply the opportunity to begin again, this time more intelligently.’’
“Never give up on a dream even if the progress is slow”-Mahalakshmi Saravanan (Read this quote whenever you need a little bit of motivation). Yes, many women try harder to start a business and make their dreams into a reality but when the progress is really slow they either give up or lose faith in themselves. Though entrepreneurship is gender-neutral, when it comes to women in business, the challenges are many and only a handful of women entrepreneurs are able to really understand what it takes to become a successful entrepreneur. With 13 women-owned unicorns in India, we can be proud that women have come a long way in creating the most needed ecosystem for women entrepreneurs. Do you think that this is going to change the women entrepreneurship landscape in India? Yes, to some extent only because there are much more aspiring women in business and existing entrepreneurs need to become successful in their ventures.
Here is a list of challenges that women face along with solutions to those challenges.
Challenges Faced by Women Entrepreneurs
- It’s high-time you reset your mindset if you have the fear of failure or have a lot of negative thoughts in you.
- Many would love to be in the comfort zone, but remember your success lies out of the comfort zone. Try to develop a challenge mindset by believing in yourself, taking one step at a time and surrounding yourselves with positive-minded people.
- Having clarity of thoughts is the first step an entrepreneur must take to be successful in business. You can take help from experts to develop a challenging mindset.
- Starting a business requires one to have a basic knowledge of all aspects of business be it finance, legal, technology, product development, licences, trademark etc.
- Many women entrepreneurs think that legal challenges are hard to handle and do not follow certain legal processes while starting a business. When you really are serious about building an empire, you must run the business systematically and follow all the legal requirements of the business.
- Preparing one-self for whatever legal challenges one has to face in business is a must and as an entrepreneur you cannot hold yourself back just because there are legal challenges. Same is the case with finance as many women think that handling finances is a herculean task.
- Women have to understand that it’s financial literacy that matters in managing finances and one can acquire it through proper practice and commitment. You can seek support from experts and connect with mentors who can guide you in the right direction. Enroll in women entrepreneur groups or communities with quality network.
- Building quality business connections is an important part of your entrepreneurial journey. Whether it’s a strategic tie-up with brands, or connecting with vendors, or joining a networking group, you must know how to create strong and long-lasting relationships that will help you sustain your business.
- It’s not always advisable to do only the networking part, it’s good to leverage your network for your business. Focusing on the right people is the key to success in networking. Make time to take part in relevant industry events, building your personal branding on the social media, and above all impacting the lives of people through your actions.
- It’s okay to handle everything on your own when you start your business, but it is not okay to continue doing the same if you wish to build a big business. Learn to outsource tasks and focus on the core business.
- There are a lot of digital tools available for payroll, taxes, promotions etc.Practice how to use those and save a lot of time by automating business processes.
- You must also learn how to delegate tasks in your household chores too. Let your family members understand what you are into and take their help in terms of managing household activities.
- Learn from mistakes:Making mistakes is a natural phenomenon. It is up to you to not repeat the mistakes. You can always evolve and make better decisions if you have learnt from your mistakes.
- Focus. Focus. Focus. Many a times you might be distracted that you will not be able to focus on what is right for you. Learn how to avoid distractions and concentrate on your productive tasks.
- Motivate yourself: You are the only one who knows how to solve your problems. The answer lies deep within you but you might need some external help to identify the solution. When you don’t have any help, don’t forget to motivate yourself because that is a strong source of energy which will help you find a better solution to your challenges.
- Being self-reliant: Learn the art of being self-reliant. Don’t compare yourself to others. Value your worth, know that you are unique and talented. Try to manage your negative emotions by naming them and expressing them. Be accountable for your actions.
Believe that you have super-powers, dream big and focus on your goals. "THINK OF THE LAST TIME YOU FELT TRULY ALIVE. DO MORE OF THAT". -Mahalakshmi Saravanan, 2X International Award Winner | TEDx speaker | Social entrepreneur Join Women Entrepreneurs India to seek expert support and submit your query in this form so that, our team can get back to you at the earliest Become a member
Women Entrepreneurs India is an independent initiative established with a social perspective in order to help women entrepreneurs grow in their fields of expertise. The organization was established in 2013 by Mahalakshmi Saravanan and has been providing compete support to women entrepreneurs. It facilitates training programs; education on new venture financial avenues, feasibility and enterprise benefits; motivation; encouraging innovative business ideas; support on product and services marketing and provides mentorship.
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